Automotive steering system helps the driver maneuver and control the
direction of the vehicle. It includes the hand-operated steering wheel,
steering column, universal joints, and rack & pinion mechanism. The
steering system has evolved from manual steering to power assist
steering. Moreover, effective steering system increases the fuel
efficiency of vehicle.

Surge in demand for fuel efficient automobiles and the rise in
disposable income of consumers primarily drives the market. In addition,
technology such as drive-by-wire is expected to be implemented in future
vehicles, indicating lucrative growth opportunity. However, the high
cost associated with power steering system could hamper the market
growth.

The market is segmented by various types of automotive steering system
namely as hydraulic power steering, electronic power steering, and
electro-hydraulic power steering system. Moreover, on the basis of
vehicle type, the market is segmented as heavy commercial vehicle, light
commercial vehicle, and passenger vehicle. Geographically, the market is
divided into North America, Europe, Asia-Pacific, and LAMEA.